NEWS 15 DEC 2010

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News on 15 December 2010

Important News- BDFIN [Dec 15 2010 10AM]
Bangladesh Finance and Investment Ltd. has informed that the Board of Directors of the Co. has decided that the Co. will participate in acquisition of an existing membership of Dhaka Stock Exchange Ltd. (DSE) through a consortium of co-investors at the prevailing market price and that the DSE membership so acquired will be transferred to the name of 'BD Finance Securities Ltd.' a proposed company to be formed by the consortium of co-investors to carry on stock dealing & brokerage business.

Important News- APXFW [Dec 15 2010 10AM]

Apex Adelchi Footwear Ltd. has informed that the Board of Directors of the Co. has resolved to expand the company's existing manufacturing capacity for catering to the growing export market for footwear in the following manner: Estimated project cost: Tk.844.50 million, Increase in capacity: from an annual current installed capacity of 5.55 million pairs annually after completion of the expansion. This will be an increase in production capacity of 32%, Projected commencement of addition production: January, 2012.

Important News-CGIC [Dec 15 2010 10AM]

City General Insurance Co. Ltd. has informed that the Board of Directors of the Co. has decided to subscribe 10% in the shareholding of "BD FINANCE SECURITIES LTD." which is going to run capital market business operations.

Important News- HPPML [Dec 15 2010 10AM]

Hakkani Pulp & Paper Mills Ltd. has informed that the Board of Directors of the Co. has taken the following resolutions: (i) To evaluate company's Machinery, Building and Land conducted by G.K. Adjusters,valuer firm, to be completed by February 2011 and (ii) To purchase and install a new paper making machinery to increase production capacity of the Co. by 150 ton per day. The machine will be put into operation by June 2012.

Important News-RUBNK [Dec 15 2010 11AM]

Investment Corporation of Bangladesh (ICB) has informed that the Government has decided to offload 3,068,750 shares instead of 24.55 %, i.e., 2,857,380 shares of Rupali Bank Ltd. held by the Govt. through Investment Corporation of Bangladesh (ICB) in the secondary market for increase the supply of quality securities in the capital market.

Record Dt. & Subs. Dt. for Rights-ASIAI[Dec 15 2010 2PM]

Asia Insurance Ltd. has further informed that the Record Date for entitlement of right shares is on 6 January 2011 and the subscription dates will open on 31 March 2011 & will close on 25 April 2011.

Audited Accounts of BSC [Dec 15 2010 3PM]

As per audited accounts of Bangladesh Shipping Corporation for the yr. ended 30 June '10, Net Profit/(Loss)= 133.42m & EPS= as against corresponding yr. end's figures of (102.60)m & (51.30) in Tk respectively. Also note that as per the said accounts, Retained Loss=Tk(1117.81)m.

Scrip Status - HPPML [Dec 15 2010 4PM]

Please note that Hakkani Pulp & Paper Mills Ltd. will be degraded to "B" category from existing "A" category with effect from 19 December 2010 as the Co. has declared 5% cash dividend for the year ended on 30 June '10. As per SEC Directive No.SEC/CMRRCD/2001-43/169 & Order No.SEC/CMRRCD/2001-50/167dated October 01, 2009;the stock brokers/dealers & merchant bankers are requested not to provide loan facilities to their clients against trading of the shares of HPPML up to 30 trading days from 19 Dec'10.